Greenfields Projects
Boulia Project
The Boulia project area is comprised of five granted tenements (EPMs), totaling 1,597square km.
In 2024, GCM conducted its maiden drilling campaign at the Boulia Project Area (see ASX Announcement 18 November 2024) which revealed an extensive belt of prospective porphyry intrusions and skarns concealed beneath younger cover in the Georgina Basin, confirming potential for an expansive belt of mineralisation and discovery of a large metal deposit in the Project Area.
Glencoe project
The Glencoe project is comprised of five granted tenements (EPMs) totalling 736 square km.
GCM selected the project area because of the similar geochemistry and geology to the Boulia Project area.
Previous exploration by Ridge Exploration Pty Ltd identified and evaluated the gently dipping layered Glencoe ultramafic intrusive with several lines of soil sampling. A weak, but coherent zone of copper, nickel, gold, platinum, and palladium anomalism was identified but was not closed off. The low level of the anomalism led Ridge to surrender the EPM in 2015.
Since that time, airborne VTEM surveys flown over the mostly alluvium covered Calrossie, Quaggy, and Jack Shay ultramafic intrusives were successful in revealing the geological geochemical and geophysical signatures that are typical of major magmatic nickel sulphide deposits.
The Digby Peaks mineral occurrence was sparsely sampled by CRA in 1977 and reported in CR6056. According to the Qld Government geochemical database, CRA located drainages and rocks anomalous in nickel, copper, cobalt, lead, and zinc. Rock samples from sheared brecciated carbonate sediments assayed up to 0.48% nickel. This unusual geochemical signature is similar to the Boulia Projects.
Glencoe lies along the western margin of the Tertiary age Burke River fault, as does the Boulia Project.
North Barkly Project
The North Barkly Project is comprised of four granted tenements (Els) and eight EL applications totalling 5,837 square km over pastoral areas on the Barkly tablelands, northwest of Mt Isa and southwest of McArthur River, in far-north NT.
The Barkly region has been subject to intense geophysical, geochemical and geological investigation by Geoscience Australia, leading to the recognition of potential for repetition of large mineral deposits akin to those mined at McArthur River and in the Mt Isa area.
Rare Earths
- Potential for previously unrecognised rare earths mineralisation hosted in ionic clay, the favoured deposit over hard rock as they are cheaper to mine and process
- Long weathering history and lack of outcrops are favourable for near surface enrichments
- Final drilling assays (ASX Announcement 20 December 2023) confirmed 15km clay-hosted rare earths enriched strike at an average grade of 1268 ppm TREO
- High Value MREO (Magnet Rare Earths) make up a high percentage (29.7%) of the TREO, with Neodymium and Praseodymium comprising 76% of the MREO
Base Metals
- Historic 88m intersection of copper-lead-zinc mineralised black shale in core at MD1A target, previously drilled by BHP
- Iron oxide copper gold ore (IOCG) anomalies recognised at the MD1A target
- Peaks in lead, zinc, copper, silver, and antimony to the north of the MD1A target at 8095, with initial drilling encountering zinc enrichments typical of Mt. Isa deposits
Red Fox Resources QLD Projects
The Company made a strategic investment and holds a 30.4% interest in Red Fox Resources Pty Limited.
Red Fox is a private Queensland focused advanced exploration Company that holds 15 granted tenements (EPMs) covering 1,234 square km in highly mineralised districts, including Cloncurry, Selwyn and Georgetown. The Company has a focus on Copper-Gold, high grade Gold, and Silver-Lead-Zinc Projects.
Benefits of Red Fox Investment
- Highly accredited Board
- Experienced Technical Team
- Proven track record of discoveries
- All projects are drill-ready, or drill-ready with low-cost groundwork
- Rapidly build value for GCM, without spending years on early-stage exploration
Cloncurry Project
- Ernest Henry Cu and Au targets, with an 80% earn-in agreement with Evolution Mining (ASX:EVN), targeting geophysical anomalies under shallow cover that are drill-ready targets
- Butcher’s Bore Au targets, targeting high-grade Tick Hill-style gold in a quartz vein system returning rock samples up to 17g/t Au
Selwyn Project
- 45km strike anomalous in Cu-Co-Au and Pb-Zn
- Concorde thrust, which is structurally similar to the Mt Dore Thrust Fault system (>3Mt copper, >4.8Moz gold endowment)
- Significant areas of iron enrichment and spongy gossans
- Minimal work to refine drill targets
Georgetown Project
- Eveleigh Zinc projects with historical drilling values up to 9.8% Zn and zone thickness 20-25m wide @ 2.5% Zn, with drilling by Red Fox in 2022 producing similar results
- Additional Eveleigh Regional Targets with additional zinc prospects
- Copper Creek developing targets with streams and soils anomalous for Proterozoic copper, over 10km strike length
Further information and progress reports on Red Fox and its activities can be found on its website.